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Cannon-Brookes snaps up $20bn Sun Cable mega-project.
Apollo, Bain, possible bidders for Fujitsu's $2.7bn stake in Shinko.
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Blackstone , an American alternative investment management company, completed the acquisition of a 60% stake in the Climate Technologies business?of 艾默生 , a technology, software and engineering powerhouse, for $8.4bn.?
“Today’s announcement is a definitive step in the portfolio journey we embarked on when I became CEO in early 2021. Over the past 18 months, the Emerson team has accelerated our portfolio transformation, divesting non-core businesses including InSinkErator and Therm-O-Disc, while investing in organic growth opportunities and important transactions including AspenTech," Lal Karsanbhai, Emerson President and CEO.
GIC was?advised by Dechert LLP (led by? Mark Thierfelder ). Blackstone was advised by Barclays (led by? Richard Siegel ?and? John McCann ), Evercore (led by? Naveen Nataraj ), Guggenheim Partners , Corrs Chambers Westgarth (led by? Jeremy Horwood ), Herbert Smith Freehills (led by? Joseph Dennis ), Simpson Thacher & Bartlett LLP (led by? Elizabeth Cooper ?and? William Allen ) and Joele Frank (led by? Jonathan Keehner ). Debt financing was?provided by RBC Capital Markets , SMBC Nikko Securities Inc. and 富国银行 . Emerson Electric was?advised by Centerview Partners , 高盛 , 贝克?麦坚时 (led by? Jannan Crozier ), Davis Polk & Wardwell LLP (led by? Phillip Mills ?and? Marc O. Williams ), 福莱 and Joele Frank (led by? Matthew Sherman ). Financial advisors were advised by Sullivan & Cromwell LLP (led by? Stephen Kotran ).
Altria , a producer and marketer of tobacco, cigarettes and related products, completed the acquisition of NJOY , a company that manufactures and distributes electronic cigarettes and vaping products, from Mudrick Capital Management , a private equity company, for $2.75bn.
“We believe we can responsibly accelerate US adult smoker and competitive adult vaper adoption of NJOY ACE in ways that NJOY could not as a standalone company. We believe the strengths of our commercial resources can benefit adult tobacco consumers and expand competition. We are also excited to welcome NJOY's talented employees to Altria at closing,” Billy Gifford, Altria CEO.
Altria was advised by 摩根士丹利 , Perella Weinberg , Arnold & Porter and White & Case LLP (led by? Chang-Do Gong ?and? Kristen Rohr ). Mudrick Capital was advised by Kekst CNC (led by? Todd Fogarty ). NJOY was advised by Moelis & Company and Weil, Gotshal & Manges LLP (led by? Mike Lubowitz ?and? Brian Gingold ).?Financial advisors were advised by? Paul, Weiss, Rifkind, Wharton & Garrison LLP .?Debt financing was?provided by? 摩根士丹利 .
TDR Capital-backed Asda Group, a supermarket chain, agreed to acquire UK and Ireland operations from EG Group, a retailer which operates filling stations, convenience stores and fast-food restaurants, for ￡2.27bn ($2.8bn).
“Asda’s acquisition of EG UK and Ireland will create a consumer champion like the UK has never seen. Throughout my career in retail – one thing has always been true, that meeting the evolving needs of customers is the route to growth. This transaction is all about driving growth by bringing Asda’s heritage in value to even more communities and accelerating the growth of its convenience retail business," Stuart Rose, Asda Chair.
Asda is advised by Lazard , Rothschild & Co , Barclays , PJT Partners , J.P. 摩根 , 摩根士丹利 , 普华永道 , Eastdil Secured , Kirkland & Ellis , Addleshaw Goddard , Latham & Watkins , and Allen & Overy . EG Group is advised by FGS Global (led by? Rollo Head ).
Cannon-Brookes snaps up $20bn Sun Cable mega-project.
Billionaire Mike Cannon-Brookes will revive a stalled $20bn plan to export solar power from Australia to Singapore after acquiring the assets of the failed Sun Cable project.
The deal gives Cannon-Brookes and Quinbrook Infrastructure Partners control of a vast renewable energy development in northern Australia, which went into voluntary administration in January following a dispute between the Atlassian co-founder and fellow billionaire Andrew Forrest, both key investors. The two disagreed over a plan to transport electricity to Asia through a 4.2k -km (2.6 mi) submarine cable.
FTI confirmed Sun Cable had entered into an asset sale agreement with Helietta Holdings, an entity linked to Cannon-Brookes’ privately owned Grok Ventures, which would acquire all of Sun Cable’s assets.
Apollo, Bain, possible bidders for Fujitsu's $2.7bn stake in Shinko.
Fujitsu's controlling stake in Shinko Electric Industries has attracted interests from Apollo Global Management, Inc. and Bain Capital as potential bidders. Dai Nippon Printing, Japan Investment Corporation (JIC) and KKR ?have also expressed interest in the stake,?Bloomberg?reported.
Fujitsu's stake is valued at around $2.7bn based on the latest stock price of Shinko. In an earlier update, the news agency had pegged it at $2.4bn. Fujitsu has been weighing options for Shinko as its largest stakeholder, looking to streamline operations adding that potential bidders could practice more caution in valuing the firm its business involves national security issues.
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